Morning Bites (part 2)

🚘EU + UK passenger car registrations slid 3% YoY in January, vs. the +4% YoY in December. The figure matched our estimates, remaining 19% below the pre-COVID 2019 level

We maintain our view that the ongoing monetary easing cycle in the EU/US and China, the increase in EU import duties (from 10% up to 45%) on Chinese BEVs (encouraging the production of catalyst-containing cars), as well as the expected cancellation of EV-support programmes in the US (which could even be replaced with USD 1,000 new EV purchase tax) might stoke the PGM price recovery in 2025, given gradual shift from BEVs to hybrid vehicles

In 2023, the EU+UK accounted for some 23% and 30% of world autocatalyst Pd and Pt demand, respectively

#cars
https://metals-wire.com/sector/PGM